real estate lawyer in Cyprus

Real Estate Costs and Legalities in Cyprus

Cyprus, known for its pristine beaches, ancient history, and attractive tax incentives, has been drawing international property investors for years. However, like any real estate venture, it’s crucial to be informed. From legal costs to specific property laws, this guide offers a detailed overview of what to expect in the Cypriot real estate market.

1. How much do lawyers charge in Cyprus?

Acquiring property in any foreign country necessitates a deep understanding of its legal framework. In Cyprus, this means hiring a competent lawyer.

Generally, lawyers charge either a fixed fee or a percentage of the property’s purchase price. The fee usually ranges from 1% to 2%, but it’s worth noting that renowned law firms, especially those specializing in real estate, might charge higher due to their expertise. Before hiring, conduct thorough research, get recommendations, and compare quotations. This will not only give you a clearer cost picture but also highlight the lawyer’s familiarity with property laws and their experience with foreign clients.

2. How much do estate agents charge in Cyprus?

An estate agent’s role is invaluable. They offer market insights, property listings, and negotiation expertise. Their commission is typically between 3% and 5% of the property’s selling price. While the seller usually covers this, it’s essential to specify this in the agreement to prevent disputes later. When selecting an agent, consider their market reputation, years of experience, and previous client reviews.

3. Unpacking the Cypriot Property Law

Cypriot property law is robust, designed to safeguard both sellers and buyers. Key aspects to be familiar with include:

  • Title Deeds: This document is the bedrock of property ownership in Cyprus. Before making a purchase, insist on a thorough check to ensure it’s free from liens or other legal issues.
  • Contract of Sale: Once signed, this document must be registered with the Land Registry Department within 60 days. This not only legally binds the sale but also secures the buyer’s rights during the transition phase.
  • Non-Cypriot Buyers: Though they can acquire property, non-residents face certain restrictions. For instance, there’s a waiting period while the Council of Ministers reviews the application. While mostly procedural, understanding this delay helps in planning.
  • Joint Ownership: If purchasing property with another party, be it a spouse, friend, or business partner, understanding the concept of joint ownership is crucial. It governs property rights and can be either joint tenancy or tenancy in common, each with its implications for inheritance and property rights.

4. Transfer and Mortgage Law Insights

Understanding the transfer and mortgage laws is essential for financial planning and ensuring a hassle-free property transition:

  • Transfer Fees: The government levies a fee during title transfers. Its value depends on the property’s market value. For properties under joint ownership, the value is split, potentially leading to reduced fees.
  • Mortgages in Cyprus: Non-residents and residents alike can avail of mortgages from local banks. The lending criteria, repayment terms, and interest rates can vary significantly. Banks usually finance up to 70% of the property’s price, though specific offers might differ. Ensure you shop around for the best rates and terms.
  • Stamp Duty: This is another cost to account for. Paid by the buyer, it’s calculated on the property’s purchase price and must be settled within 30 days of signing the contract.


Cyprus’s real estate landscape is filled with opportunities. However, knowledge is power. Being well-informed about costs like legal fees and estate agent commissions, as well as intricacies of property and mortgage laws, ensures that your investment journey in this Mediterranean haven is smooth and successful.

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